Atlas Copco to acquire U.S. bolting solutions specialist
December 16, 2014
Stockholm, Sweden, December 16, 2014: Atlas Copco, a leading provider of sustainable productivity solutions, has agreed to acquire Titan Technologies International Inc., a provider of powerful bolting tools to the oil and gas and other industries.
Clifton, New Jersey, USA- based Titan Technologies has 14 employees and estimated revenues in 2014 of MUSD 5 (MSEK 35). The privately owned company sells hydraulic torque wrenches as well as pumps and accessories. The products are used to ensure joint integrity during great pressure, for example on oil rigs, wind farms, ship yards and bridges.
“This acquisition is a strategic fit as it expands our offerings of superior bolting solutions to more customers in segments like oil and gas and power generation,” said Mats Rahmström, President for Atlas Copco’s Industrial Technique business area. “This increases our channels to the market and gives greater access for our customers to our products and services.”
For more information on Titan Technologies, please see www.titanti.com.
The acquired business will become part of the Chicago Pneumatic Tools division in the Industrial Technique business area.
The acquisition is expected to be finalized during the first quarter of 2015.
For further information please contact:
- Mats Rahmström, Business Area President, Industrial Technique +46 8 743 8505
- Ola Kinnander, Media Relations Manager +46 8 743 8060 or +46 70 347 2455
Atlas Copco is a world-leading provider of sustainable productivity solutions. The Group serves customers with innovative compressors, vacuum solutions and air treatment systems, construction and mining equipment, power tools and assembly systems. Atlas Copco develops products and service focused on productivity, energy efficiency, safety and ergonomics. The company was founded in 1873, is based in Stockholm, Sweden, and has a global reach spanning more than 180 countries. In 2013, Atlas Copco had revenues of BSEK 84 (BEUR 9.7) and more than 40 000 employees.
Atlas Copco’s Industrial Technique business area provides industrial power tools, assembly systems, quality assurance products, software and service through a global network. The business area innovates for sustainable productivity for customers in the automotive and aerospace industries, industrial manufacturing and maintenance, and in vehicle service. Principal product development and manufacturing units are located in Sweden, France and Japan.